Fiat is Fraud In any voluntary exchange, each party trades something they perceive to be of lesser value for something they value more. For this to occur, each traded good or service must embody value, typically through production, effort, or scarcity. However, fiat money is created without effort, cost, or natural scarcity. It is, in objective economic terms, worthless. The only reasons it functions as a medium of exchange are: (a) Government coercion (legal tender laws), (b) Mass deception: the belief that fiat money represents real value, or (c) Both. Therefore, every exchange involving fiat money includes at least one side trading something real for something artificially created – a transfer based on illusion, not value. This makes fiat money not merely a flawed tool, but the basis of the largest systematized fraud in human history, where value is extracted by force or deceit, rather than by honest production and voluntary exchange. In moral and natural law terms, all exchanges relying on fiat money are corrupted at their core and arguably void of full legitimacy. #fiatisfraud #rothbard